Malton Shares Up 30 Pct On AI Centre Partnership Proposal
KUALA LUMPUR, June 24 (Bernama) -- Shares of Malton Bhd rose almost 30 per cent in early trade today after it announced plans to collaborate with a United States-based NVIDIA cloud partner to establish artificial intelligence (AI) compute centres in Malaysia.
At 10.30 am, its share price jumped seven sen to 33 sen, with 13.68 million shares, making it among the most actively traded counters on Bursa Malaysia.
In a Bursa Malaysia filing yesterday, the property developer said it had entered into a memorandum of understanding (MoU) with Ricloud AI Inc to jointly promote Ricloud's services in Malaysia. It will subsequently expand into Southeast Asian markets leveraging Ricloud's NVIDIA cloud partner status and AI expertise.
Ricloud is a US-based AI cloud infrastructure provider and an official NVIDIA cloud partner certified in NVIDIA enterprise software, networking and compute, with access to advanced NVIDIA technologies, including GPU-accelerated clusters and NVIDIA AI enterprise software.
Under the proposed collaboration, Ricloud will source global technology companies to invest in AI compute centres in Malaysia, provide technical expertise, AI server procurement, NVIDIA GPU clusters and related AI solutions.
Malton, meanwhile, will assist in identifying suitable sites, obtaining regulatory approvals and act as the main contractor for the construction and commissioning of the facilities.
The company said the collaboration represents an opportunity for the group to participate in the growing demand for cloud computing, AI-related computing and data centres.
The MoU is non-binding and will not have any immediate effect on its share capital, earnings, net assets or gearing, the filing said.
The collaboration is for an initial period of 12 months or until a definitive agreement is signed.
-- BERNAMA